Arlo Technologies, Inc. $ARLO Shares Bought by Sei Investments Co.

Key Points

• Sei Investments increased its Arlo Technologies stake by 313.8% in the first quarter, reaching 299,435 shares valued at approximately $4.26 million. Institutional investors and hedge funds collectively own 83.18% of the company.
• Arlo CFO Kurtis Joseph Binder sold 27,297 shares for about $423,649 under a pre-arranged Rule 10b5-1 plan; insiders sold 122,775 shares worth $1.87 million during the last quarter.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $20.67. Arlo’s latest quarterly results also exceeded estimates, with revenue up 26.3% year over year and EPS of $0.28 versus the $0.19 consensus.

Sei Investments Co. lifted its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 313.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 299,435 shares of the company's stock after acquiring an additional 227,074 shares during the period. Sei Investments Co. owned 0.28% of Arlo Technologies worth $4,261,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GSA Capital Partners LLP boosted its position in shares of Arlo Technologies by 557.1% in the 4th quarter. GSA Capital Partners LLP now owns 141,372 shares of the company's stock valued at $1,978,000 after purchasing an additional 119,857 shares during the period. UBS Group AG raised its position in Arlo Technologies by 49.9% during the 4th quarter. UBS Group AG now owns 580,829 shares of the company's stock worth $8,126,000 after buying an additional 193,379 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Arlo Technologies in the 4th quarter valued at approximately $6,794,000. Wasatch Advisors LP lifted its holdings in shares of Arlo Technologies by 1.9% in the 1st quarter. Wasatch Advisors LP now owns 5,426,267 shares of the company's stock valued at $77,216,000 after buying an additional 103,782 shares during the period. Finally, Tudor Investment Corp ET AL lifted its holdings in Arlo Technologies by 375.1% in the third quarter. Tudor Investment Corp ET AL now owns 245,288 shares of the company's stock valued at $4,158,000 after acquiring an additional 193,662 shares during the period. Institutional investors and hedge funds own 83.18% of the company's stock.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 27,297 shares of Arlo Technologies stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $15.52, for a total transaction of $423,649.44. Following the sale, the chief financial officer directly owned 442,110 shares in the company, valued at $6,861,547.20. The trade was a 5.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 122,775 shares of company stock worth $1,865,639. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group set a $20.00 price target on shares of Arlo Technologies in a research report on Monday, May 18th. Weiss Ratings lowered shares of Arlo Technologies from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday. Piper Sandler initiated coverage on Arlo Technologies in a research note on Sunday, July 26th. They set an "overweight" rating and a $17.00 price target on the stock. William Blair initiated coverage on shares of Arlo Technologies in a report on Tuesday, July 7th. They set an "outperform" rating on the stock. Finally, Oppenheimer started coverage on shares of Arlo Technologies in a research note on Monday, May 18th. They set an "outperform" rating and a $20.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.67.

Arlo Technologies Stock Performance

ARLO stock opened at $15.93 on Thursday. Arlo Technologies, Inc. has a 1 year low of $11.05 and a 1 year high of $19.94. The stock has a 50-day simple moving average of $13.30 and a 200-day simple moving average of $13.44. The firm has a market cap of $1.73 billion, a P/E ratio of 59.00 and a beta of 1.56.

Arlo Technologies (NYSE:ARLO - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.09. Arlo Technologies had a net margin of 5.47% and a return on equity of 18.66%. The company had revenue of $150.38 million for the quarter, compared to analyst estimates of $139.72 million. During the same quarter last year, the firm posted $0.15 earnings per share. The business's quarterly revenue was up 26.3% on a year-over-year basis. On average, equities research analysts predict that Arlo Technologies, Inc. will post 0.2 EPS for the current year.

About Arlo Technologies

Arlo Technologies, Inc NYSE: ARLO is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.

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